AceTraderFx: DAILY MARKET OUTLOOK on Major - USD/JPY

[acetraderfx]

AceTraderFx Sept 10: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 10 Sept 2021 09:30GMT

USD/JPY - 109.88
Yesterday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying suggests recent erratic rise from 109.12 has made a top at Wednesday's 3-1/2 week peak of 110.44 and consolidation with downside bias is seen for weakness to 109.42, however, reckon 109.12 should remain intact.

Only above 110.15 indicates pullback is over, then risk is seen for subsequent re-test of 110.44 later next week.

T.G.I.F. after a roller-coaster week (dlr rose on Mon from 109.63 to 110.44 yesterday and only to fall back to exactly where it started !), U.S. will later release a slew of eco. data, please refer to our EI page for details n pay attention to PPI n core PPI at 12:30GMT.
We also have Cleveland Fed President Mester speaking at 13:00GMT.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 13: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 13 Sept 2021 09:30GMT

USD/JPY - 110.12
Despite last Thursday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying, subsequent rebound to 109.99 Friday and intra-day break above there suggests the pullback from Wednesday's peak at 110.44 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 109.12 towards 110.70/80.

On the downside, only below 109.80 would indicate a temporary top has been made instead and risk weakness towards 109.63 later this week.

Data to be released today:
New Zealand food price index, Japan corporate goods price.
Germany wholesale price index.
U.S. Federal budget on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 14: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 14 Sept 2021 09:30GMT

USD/JPY - 110.03
Despite last Thursday's cross-inspired decline to 110.63 in New York due to safe-haven yen buying, subsequent rebound to 109.99 Friday and intra-day break above there suggests the pullback from Wednesday's peak at 110.44 has ended there and consolidation with upside bias remains for a re-test of said resistance, break would extend recent upmove from 109.12 towards 110.70/80.

On the downside, only below 109.80 would indicate a temporary top has been made instead and risk weakness towards 109.63 later this week.

Market is awaiting the most important U.S. eco. data at 12:30GMT today, the CPI, pay attention to y/y number for Aug, estimate is 5.3% vs prev. reading of 5.4%, a higher-than-expected figure to raise expectation of Fed's tapering at next FOMC meeting on Sep 21-22 meeting n would send usd higher across the board n the flip side may happen if actual reading is lower then 5.0%.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 15: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 15 Sept 2021 09:30GMT

USD/JPY - 109.35
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

U.S. will release a slew of eco. data, please refer to our EI page for details. Pay attention to industrial production, capacity utilization n mfg output at 13:15GMT, if actual readings are weaker than forecast, then expect US yields to fall further n more yen buying vs usd, euro n sterling.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 16: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 16 Sept 2021 09:30GMT

USD/JPY - 109.34
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

U.S. will release a slew of eco. data, please refer to our EI page for details n today's market focus following Tuesday's CPI is August retail sales, a stronger-than-expected number would spur usd buying.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 17: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 17 Sept 2021 09:30GMT

USD/JPY - 109.93
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released on Friday:
New Zealand manufacturing PMI.
U.K. retail sales, EU current account, construction output, HICP.
U.S. University of Michigan sentiment.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 20: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 20 Sept 2021 09:30GMT

USD/JPY - 109.71
Dollar's selloff from Tuesday's high at 110.15 to 109.53 due to the release of soft U.S. inflation data suggests early upmove from 109.12 has ended at 110.44 in Sep and intra-day break below there suggests bearishness is retained for a re-test of aforesaid support, break would extend decline from August's peak at 110.79 marginally, however, support at 108.73 should remain intact and yield rebound later.

On the upside, only above 109.60/63 would indicate a temporary low has been made and risk stronger retracement to 109.99/00, then 110.15/20 later.

Data to be released later:
New Zealand Westpac consumer survey, Japan market holiday, China market holiday.
U.K. Rightmove house price , Germany producer prices.
U.S. NAHB housing market index on Monday.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 21: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 21 Sept 2021 09:30GMT

USD/JPY - 109.64
Although dollar's intra-day rebound after yesterday's selloff from 110.03 to 109.33 in tandem with U.S. yields and active safe-haven buying in jpy suggests choppy trading above last week's bottom at 109.12 would continue, as long as 109.82 holds, daily bearishness remains and below 109.12 would extend recent decline towards support at 108.73.

On the upside, only above Friday's high at 110.07 would risk stronger retracement to 110.25/30 but resistance at 110.44 should remain intact.

The Fed starts its 2-day FOMC meeting today and on the data front, we have current account, building permits n housing starts. Traders will continue to take cue from global stock performance n movement in U.S. yields.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 23: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 23 Sept 2021 09:30GMT

USD/JPY - 109.91
Yesterday's rally from 109.13 (Asia) to 109.89 after Fed's hawkish tilt, then intra-day cross-inspired break above there suggests re-test of 110.07 would be seen, break signals correction from September's 110.44 peak has ended and yields further gain to 110.15.

Only below 109.60/64 'prolongs' broad sideways swings and may yield weakness to 109.42, break, 109.12/13 later.

U.S. will later release a slew of eco. data, please refer to our EI page for details. Pay attention to weekly jobless claims, continued jobless claims, then Markit services n mfg PMIs, a better-than-expected reading will spur more usd buying.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update

 

[acetraderfx]

AceTraderFx Sept 24: Daily Recommendations on Major –USD/JPY

DAILY MARKET OUTLOOK on Major
Update Time: 24 Sept 2021 09:30GMT

USD/JPY - 110.40
Dollar's intra-day cross-inspired break of previous September's 110.44 high suggests re-test of August's 110.79 top would be seen after consolidation, above there would encourage for further headway towards 111.11 early next week before retreat due to overbought condition.

Only below 110.07 (prev. res, now sup) signals temporary top is made, then risk would shift to downside for stronger retracement to 109.70.

Data to be released on Friday:
New Zealand imports, exports, trade balance, Japan CPI, manufacturing PMI.
UK consumer confidence, Italy business confidence, consumer confidence, Germany Ifo business climate, Ifo current conditions.
Canada budget balance and U.S. building permits, new home sales.

AceTrader - Best Intra-day Forex Trading Strategies
AceTrader has been in Forex market since 1984, with proven analytical approach used by professionals and real-time update